Medical billing is a process of preparing medical invoice of the patient and forwarding it to insurance companies to compensate for the services provided by them. The hospitals prepare a medical claim to the insurance companies. The administrative costs are increasing day-by-day and hence the healthcare industries outsource this process to the medical billers. The medical billers perform different processes to aid effective interaction between the hospitals, patients and insurance companies.
The healthcare industries initially prepare medical records of the patients stating their medical history, personal details, problems, and diagnosis. The medical biller provides medical billing services for physicians. Based, upon the diagnosis, they recommend medications, surgeries or regular therapies. So, in this process, the patient incurs medical costs and so they should forward these claims to the insurance companies. These insurance companies should compensate to the healthcare industries. But, the surgery or medical costs are rising and the patients are not able to pay them promptly. The medical billers not only prepare medical invoices, but also negotiate between the parties. They verify the insurance eligibility of the patients and enter the claim charges and demographics of the patients. Then, they assign the CPT and ICD diagnostic codes and ensure that they correspond with the AMA approved codes. Also, they should ensure authorizations of the managed care. They should perform batching and transmit the claims to the clearing house. Then, the patient’s invoice is forwarded to the insurance company. Then, they should handle the denials, claim appeals whenever necessary. The medical billers should also maintain the records of tertiary and secondary claims submission whenever applicable. The medical records of the patients should be always updated and should be prepared on weekly basis. They should always update the rules prescribed by the local regulations, state and Medicare regulations.
- Care for the patients
In medical billing for physicians, the most important thing is to provide ultimate care to the patients, and their satisfaction will bring a better reputation for the hospital. So, while the staff and the doctors try to give the utmost attention to the well-being of the people who have come to get aid from their health issues and with that, the billing becomes very crucial too. Every diagnoses or disease has its unique code and based on that the medical bills are made, so there will be no error or misunderstanding at the time of payment. In the older days, there were no such codes, for that there were several mistakes and the patients might have to pay more than they were required.
- The privacy
Through the modern medical billing system, the privacy of one patient’s illness is always kept private. If one person is sick with some diseases that they do not want to disclose, then these bills are perfect in ensuring that and the same is never handed over to a third party who is not related to the patient. This was not possible before as there was no proper billing system. In this case, the insurance companies also tie up with the hospital and that information is kept private too.
- Flow of payment
With the help of medical billing and coding, the flow of payment in hospitals has increased and this has happened because of the efficient billing service. You will not find one healthcare center lacking in patients, and other than their service in curing people, or experienced doctors, their billing method has to be very modern and easy to grasp. Only that way a healthcare center can be perfect in every way and can bring more customers to their doorstep.
- The chance of career
Medical billing and coding are not just for the hospitals or clinics but the people who are looking for a good job. The study of billing and coding is a small course and if you get it, you will be able to bag the best and comfortable job.
Medical billing and coding are two different aspects. Medical coding includes conversion of claim into CPT codes or current procedural terminology code. So, the medical coders translate medical services into codes. So, while claiming the amount, the code is applied.
A medical billers undertakes the responsibility of billing services to doctors as the registering the patient’s name, entering the personal details of the patient, maintain detailed diagnosis of the patient’s, and using the patient’s information to claim future expenses. They are updated with the rules and regulations pertaining to medical expenses. They should also be aware about matters such as taxation, service taxes, reimbursement rules tc. The medical biller is responsible for the following aspects.
- Financial expenses incurred for a visit
- Assigning code
- Compliance for billing
- Transmitting claims and preparing
- Generating statements or bills for patient
But the insurance plans generally do not cover patient’s coverage or the medications that are prescribed.